Summary:Senate Bill 2495/House Bill 2445reclassifies cannabis possessing less than 0.3 percent THC as an industrial crop rather than a controlled substance. Separate legislation enacted in 2016, HB 2032, allows for the licensed cultivation of industrial hemp when “grown by an institution of higher education in this state that offers a baccalaureate or post-graduate level program of study in agricultural sciences.” The law also establishes a process for licensure for persons who wish to process or distribute industrial hemp within the state.